{"id":82282,"date":"2015-12-10T07:11:32","date_gmt":"2015-12-10T12:11:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=82282"},"modified":"2015-12-10T07:11:32","modified_gmt":"2015-12-10T12:11:32","slug":"eurodollar-expected-correction-to-lb-after-maximum-update","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/12\/eurodollar-expected-correction-to-lb-after-maximum-update\/","title":{"rendered":"Euro\/Dollar: Expected Correction to LB after Maximum Update"},"content":{"rendered":"<div id=\"inves-586317911\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 10, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Vladislav Antonov, Alpari<\/strong><\/p>\n<p><i><b>Yesterday\u2019s Trading:<\/b><\/i><\/p>\n<p>By the end of Wednesday the euro\/dollar had renewed to the U4 at 1.1042. Growth for the pair exceeded one figure. There was no news yesterday to put the dollar down. More long positions on the dollar were closed yesterday as they have been since the ECB declined to ratchet up their efforts and loosen their monetary policy.<\/p>\n<p>Traders who have been buying dollars all year are patiently waiting for the Fed to up their base rate and the regulator has been making them wait since April of this year due to the weak macroeconomic data.<\/p>\n<p><i><b>Main news of the day (EET):<\/b><\/i><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:30, SNB interest rate decision;<\/li>\n<li>11:30, UK balance of trade for October;<\/li>\n<li>14:00, BoE interest rate decision and asset purchases. At the same time we will get a look at the Bank\u2019s minutes;<\/li>\n<li>15:30, US initial unemployment benefit applications;<\/li>\n<li>20:30, Mark Carney to speak;<\/li>\n<li>21:00, US monthly budget report (November).<\/li>\n<\/ul>\n<p><i><b>Market Expectations:<\/b><\/i><\/p><div id=\"inves-1658640575\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>The focus for Thursday is on the Swiss National Bank and Bank of England.<\/p>\n<p>The euro\/dollar is at the top of the MA channel. Due to this, I expect the pair to renew its maximum and return to the LB at 1.0975.<\/p>\n<p><i><b>Technical Analysis:<\/b><\/i><\/p>\n<ul class=\"list list_type_disc\">\n<li>Intraday target maximum: 1.1050, minimum: 1.0975, close: 1.1000;<\/li>\n<li>Intraday volatility for last 10 weeks: 103 points (4 figures).<\/li>\n<\/ul>\n<p>At the moment we can see my previous forecast working its magic for the euro. Since the hourly stochastic is already down, I expect to see a renewal of the maximum and a bounce to the LB. Today we need to keep an eye on how the euro\/pound does. Volatility will build after the BoE\u2019s minutes come out. If there are more (than one) MPC members who want to up the rate, the pound\/dollar will shoot up by another 100 points and this will send the euro\/pound right down. Due to this, the euro could be down against the dollar.<\/p>\n<div class=\"gray-area\">\n<div class=\"gray-area__wrap \">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2015\/12\/eur_101215.png\" alt=\"EUR\/USD Hourly Graph\" width=\"650\" height=\"660\" \/><\/p>\n<div class=\"s_invisible_yes\">Source: alpari.com, &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/11379_10122015\/\">Euro\/Dollar: Expected Correction to LB after Maximum Update<\/a>&#8220;<\/div>\n<\/div>\n<\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Vladislav Antonov, Alpari Yesterday\u2019s Trading: By the end of Wednesday the euro\/dollar had renewed to the U4 at 1.1042. Growth for the pair exceeded one figure. There was no news yesterday to put the dollar down. More long positions on the dollar were closed yesterday as they have been since the ECB declined to ratchet [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-82282","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=82282"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82282\/revisions"}],"predecessor-version":[{"id":82283,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82282\/revisions\/82283"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=82282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=82282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=82282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}